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Rajesh sold two mobile phones at the same price, one of which is Nokia and the other one is Samsung. He suffered a loss of 20% on Nokia whereas a profit of 20% on Samsung. In the entire transaction he suffered
1. Loss of 2%
2. Profit of 4%
3. Loss of 4%
4. No profit no loss

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Correct Answer - Option 3 : Loss of 4%

Given:

Selling Price of Nokia = Selling Price of Samsung

Loss on Nokia = 20%

Profit on Samsung = 20%

Formula Used:

Profit % = ((SP - CP)/CP) × 100%

Loss % = ((CP - SP)/CP) × 100%

Calculation:

Let the cost price of Nokia = Rs. 300

Loss on Nokia = 20%

Loss % = ((CP - SP)/CP) × 100%

⇒ 20 = ((300 - SP)/300) × 100

⇒ 300 - SP = 60

⇒ SP = Rs. 240

Selling Price of Nokia = Rs. 240

Selling Price of Nokia = Selling Price of Samsung

Selling Price of Samsung = Rs. 240

Profit on Samsung = 20%

Profit % = ((SP - CP)/CP) × 100%

⇒ 20 = ((240 - CP)/CP) × 100

⇒ 1/5 =(240 - CP)/CP

⇒ CP = 5(240 - CP)

⇒ CP = 1200 - 5CP

⇒ 6CP = 1200

⇒ CP = Rs. 200

Cost Price of Samsung = RS. 200

Total cost price of Nokia and Samsung = Rs. 300 + Rs. 200

⇒ Total cost price of Nokia and Samsung = Rs. 500

Total selling price of Nokia and Samsung = Rs. 240 + Rs. 240

⇒ Total selling price of Nokia and Samsung = Rs. 480

Loss % = ((CP - SP)/CP) × 100%

⇒ Loss % = ((500 - 480)/500) × 100%

⇒ Loss % = 4%

∴ In the entire transaction he suffered a loss of 4%.

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